Buffett’s sale of BoA shares surpasses $10B

08/10/2024 Argaam
Logo ofBank of America (BoA)

Logo of Bank of America (BoA)

Warren Buffett’s Berkshire Hathaway sold an additional portion of its shares in Bank of America (BoA), marking the 14th time the company has reduced its stake in the US lender since mid-July 2024.

 

A regulatory filing submitted by the company on Oct. 7 revealed that it sold shares worth $383 million over three trading sessions, according to Bloomberg.

 

The value of shares sold in this round was lower than in most previous rounds. The filings suggest that Buffett tends to sell when the stock price approaches the $39 mark.

 

With this latest sale, the total value of shares sold since mid-July has exceeded $10 billion. Berkshire's remaining stake in BoA now stands at 10.1%, valued at $31.4 billion based on the Oct. 7 closing price of $39.96 per share.

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